Inpixon provides update on pending strategic transactions

Inpixon announced that it is working with XTI Aircraft Company to expeditiously satisfy applicable closing conditions to the previously announced business combination transaction. The parties intend to announce the anticipated closing date of the transaction as soon as possible following the satisfaction of such conditions and receipt of Nasdaq approval for the listing of the post combination company’s common stock. The combined company is expected to operate under the name XTI Aerospace, and to trade on the Nasdaq Capital Market under the symbol “XTIA” if approved for listing. When completed, the merger will result in a combined publicly traded company that will focus on advancing the TriFan 600 to market, as well as continuing to offer Inpixon’s real-time location systems technology to manufacturing and warehousing facilities for streamlined operations, greater efficiency, and improved safety. The enterprise value of XTI was ascertained by an independent financial advisory firm to be within the range of $252M-$343M. In addition, in connection with the previously announced spin-off of its subsidiary, Grafiti Holding, Inpixon contributed all of the outstanding shares of its wholly owned subsidiary which operates its data analytics and statistical visualization solutions business in the United Kingdom to Grafiti Holding. On December 27, 2023, all of the shares of Grafiti Holding were transferred to a trust to be held for the benefit of holders of Inpixon’s common stock, preferred stock and certain outstanding warrants as of December 27, 2023 pending the effectiveness of a registration statement which has been confidentially submitted by Grafiti Holding with the Securities and Exchange Commission. During the period that the trust retains possession of the Grafiti Holding shares, and prior to their distribution, the beneficial interests in such shares will not be certificated or tradable. The Grafiti Holding shares will be distributed to Inpixon participating securityholders prior to the closing of the business combination with Damon Motors, Inc. and the combined company will be listed on the Nasdaq Capital Market subject to the approval of an initial listing application.